NEW DELHI, Feb. 26 (UPI) — State-run Oil and Natural Gas Corp. has appointed global reservoir consultant DeGolyer & McNaughton to audit the wells it will drill.

ONGC has taken this decision to avoid criticism that it has been deviating from its exploration and production expertise activities.

A company spokesman said the decision to appoint a third-party consultant to audit its wells was taken in view of the growing competition in the oil and gas sector.

The consultant was also appointed to avoid incidents of high input costs on exploratory wells. To deal with such situations, ONGC decided to appoint a third-party audit system, he said.

“The Petroleum and Natural Gas Ministry had in January this year given us a suggestion to adopt third-party audit system,” the spokesman said.

He said following detailed discussion on the matter, an apex committee of the government-controlled oil and gas giant OK’d D&M as the third-party auditor.

ONGC has said it is committed to the highest principles of corporate governance. It said the move to hire was to increase transparency.

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